Vacancy Rate drops In the Black Hills Area
In December, the South Dakota Multi-Housing Association surveyed its Black Hills Area members for its 4th biannual vacancy survey. From the reported data, the December 2020 vacancy report confirmed a vacancy rate of 1.54%. Over a one and a half percent decrease from the June 2020 reported vacancy rate of 3.06%.
“Our members are very resilient. Utilizing online leasing and self guided tours to accommodate prospective residents during the pandemic. In a way it has been a blessing, forcing many of us to use technology for more than advertising.” Said Todd Hollan, Chair of South Dakota Multi Housing Association.
“Rapid City’s growth is evident in the number of people moving into the area as well as the Air Base future plans. Also in the additional multifamily units planned or currently under construction. The City saw a record number of building permits for multifamily in 2020, and look forward to these owners offering great options for the public to utilize.” said Hollan.
South Dakota Multi-Housing Association performs the vacancy survey of its members in June and December each year.
South Dakota Multi-Housing Association is a membership organization dedicated to advancing the residential rental community by providing leadership, education, advocacy and partnerships.
For more information about South Dakota Multi Housing Association, please visit http://www.sdmha.com